AIRLINE INDUSTRY LITERATURE REVIEW

 The airline industry plays a crucial role in connecting people and businesses across the globe, and has undergone significant changes in the last few decades. In this literature review, we will explore some of the key developments and challenges faced by the airline industry, as well as the current state of the industry and its future prospects.

AIRLINE INDUSTRY LITERATURE REVIEW

One of the major challenges faced by the airline industry is the increasing demand for air travel, which has put pressure on airlines to expand their operations and invest in new aircraft. This has led to increased competition among airlines, as well as a trend towards consolidation and partnerships.

Another key challenge is the impact of rising fuel prices, which have a significant impact on the operating costs of airlines. To address this challenge, airlines have implemented various fuel efficiency measures, such as using lighter materials in aircraft construction and adopting more efficient engines.

In recent years, the airline industry has also had to contend with the impact of global economic downturns, which have affected demand for air travel. This has led to reduced profits and bankruptcy for some airlines.

Despite these challenges, the airline industry remains a vital part of the global transportation system and continues to grow. According to the International Air Transport Association (IATA), global air traffic is expected to double in the next 20 years, driven by increasing demand from emerging markets and the growth of low-cost carriers.

To meet this demand, airlines are investing in new aircraft and technologies, such as sustainable fuels and advanced digital systems. They are also adopting new business models, such as offering personalized and flexible travel options to meet the needs of travelers.

In conclusion, the airline industry is facing a range of challenges, including increasing demand, rising fuel costs, and economic downturns. However, it is also adapting to these challenges by investing in new technologies and business models, and is expected to continue growing in the coming years. Overall, the future of the airline industry looks bright, with the potential for continued expansion and innovation.